IGPS Co, LLC filed for bankruptcy relief blaming its financial troubles on missing pallets. The irony is that the pallets are traceable. IGPS owns millions of plastic pallets that are traceable because of real-time tracking embedded in the pallets. IGPS lost over a million of the pallets causing a default on loans resulting in creditors demanding immediate payment. IGPS filed bankruptcy with the intent of selling is assets to a predetermined purchaser.

For more details read, “Traceable pallet company seeks bankruptcy, blaming lost product.”